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4 New Year’s accounting resolutions you should adopt now!

Happy 2016 from your Nelson and Marlborough based Chartered Accountants! It’s the time of year where you could and should be assessing the way you want your business to grow in the coming calendar year.

To help you achieve your potential, we thought we’d pop together a list of our top 4 New Year’s accounting resolutions you should adopt now!

Get on the cloud – If you haven’t already switched over to a cloud based accounting system, then now is the time to make the move, your business could make big gains from taking this step. Read this article from our archives to discover what they are.

Update your budgets and forecasts – This should be part of your business’ ongoing strategic plan. Remember our business advisory team can help you with this and so much more.

Fix up your filing – Keeping good records is imperative for business success. If you’re just starting out in business speak to us about the form your business records should take. It’s important to think about not only the filing of documents, payment of wages, banking and other records – but also the extent to which you should maintain records that will assist your Chartered Accountant in preparing your financial statements.

Meet your deadlines – If you don’t settle accounts payable on time you could incur late payment fees. If you don’t file your financials before the IRD deadline, you’re basically throwing money down the drain. This expense is so simply avoided by planning to meet payments and deadlines on time.#jastoptip – You should also be invoicing regularly at the end of a set period, this will increase your cash flow, allowing you to meet payments.